$102,694.00
-0.73%$2,285.01
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-1.18%$135.64
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-0.00%$0.272928
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-5.67%$0.55454
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-0.77%$34.11
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0.34%$12.04
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0.00%$2.87
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0.06%$81.51
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0.01%$3.31
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-4.68%$234.14
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0.07%$50.63
-2.15%$1.00
0.00%$316.00
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0.00%$4.74
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0.07%$0.691315
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0.01%$1.00
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0.65%$633.90
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0.52%$0.261653
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3.43%$103,130.00
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0.00%$0.70695
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0.43%$38.97
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0.02%$0.01149319
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1.25%$102,568.00
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-5.24%$0.505095
-6.37%$2,284.26
-5.76%$2,283.82
-5.78%$102,664.00
-0.72%$34.07
-1.69%$0.997331
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-5.44%$2,440.37
-5.88%$0.444305
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2.03%$0.238119
-5.50%$1.30
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0.28%$0.406238
-0.51%$0.060971
0.63%$0.999807
-0.00%$46.20
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-0.00%$1.00
0.03%$1.091
0.00%$2.22
-7.52%$0.00000041
-1.01%$0.999515
-0.00%$0.156875
-3.69%$34.06
-1.35%$0.391014
0.63%$0.998065
-0.04%$0.03719353
-7.97%$5.18
-4.44%$0.0000181
-3.76%$12.64
-6.37%$2,282.67
-5.78%$0.172586
6.86%$1.15
-5.72%$0.450828
-7.52%$2,427.54
-5.65%$0.104179
-4.99%$0.349715
-5.78%$0.067675
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-5.57%$0.474379
-6.04%$2.09
-5.96%$0.00582519
-5.73%$0.0036716
-7.39%$1.15
-5.61%$0.03350139
-1.65%$0.01709985
-1.26%$0.870975
-5.87%$1.05
-4.40%$102,518.00
-0.78%$4.86
-5.36%$2,518.11
-5.68%$0.03210119
-9.56%$0.316943
-0.27%$0.03284748
-5.67%$0.121624
-5.56%$19.31
-0.20%$0.999818
-0.00%$0.999126
0.00%$101,247.00
-2.32%$0.999518
0.13%$0.00360531
-8.74%$1.28
-7.79%$0.999962
0.00%$0.122599
-6.71%$2,501.35
-5.61%$0.00005475
-4.97%$2,283.70
-5.68%$147.85
-3.21%$0.00000075
-7.44%$0.00288685
-7.92%$0.690668
-4.79%$0.00000141
-3.49%$0.998028
-0.05%$0.00331258
-4.03%$1.027
-4.60%$9.45
-0.15%$0.425761
-6.05%$1.71
0.40%$102,620.00
-0.78%$2,279.50
-5.90%$1.016
0.06%$102.86
-4.20%$16.97
-3.25%$0.578819
-4.66%$0.056599
-7.79%$100,522.00
3.65%$2,062.14
-0.77%$0.262104
-6.81%$0.173649
-6.24%$0.00473758
-7.75%$99,727.00
-1.11%$0.49052
-0.12%$0.999636
-0.01%$0.528777
-8.53%$0.170656
-6.44%$13.96
-2.43%$0.01529218
-7.28%$18.76
-3.80%$5.49
-9.44%$20.55
-3.23%Reading
Litecoin founder Charlie Lee has criticized the decentralized financedecentralized finance (DeFi) industry, calling it the “worst of both worlds.” His critique comes after a trader exploited several DeFi protocols to take home a staggering $1 million—in just two trades.
This is why I don't believe in DeFi. It's the worst of both worlds. Most DeFi can be shut down by a centralized party, so it's just decentralization theatre. And yet no one can undo a hack or exploit unless we add more centralization.
So how is this better than what we have now? https://t.co/F1HMSeqb6q
— Charlie Lee [LTC⚡] (@SatoshiLite) February 16, 2020
As Decrypt reported, the trader used a clever set of instructions—all executed in one big transaction—to exploit the existing DeFi ecosystem. And then did it again.
After the operation, bZx, which maintains the Fulcrum protocol, posted an update stating that it will use an “admin key” to remedy the situation—exposing that the supposedly decentralized protocol isn’t decentralized at all.
A trader has again exploited a number of decentralized finance (DeFi) tools, to take home a large amount of Ethereum (ETH). After netting $350,000 on Valentine’s Day, he or she has now taken a further $645,000—a total just shy of a million dollars. The theft happened in the same way. A clever set of instructions—all executed in one big transaction—enabled the trader to leverage current weaknesses in the DeFi ecosystem for their own gain. By using several decentralized financial tools, and a smal...
Charlie Lee echoed this exact concern. He said that, if most DeFi can be shut down by a centralized party, then it’s just “decentralization theatre.” At the same time, he noted that undoing a hack or exploit always requires centralization, making DeFi no better “than what we have now.”
But his comments were controversial. Several users pointed out that there are many different DeFi projects and he shouldn’t judge all of them by a few—or one, in this case—examples. Most commenters also acknowledged that DeFi is still a nascent technology experiencing its growing pains. But at the end of the day, with $1 billion on the line—DeFi must do better.
North Korean hackers are luring crypto professionals into elaborate fake job interviews designed to steal their data and deploy sophisticated malware on their devices. A new Python-based remote access trojan called "PylangGhost," links malware to a North Korean-affiliated hacking collective called "Famous Chollima," also known as "Wagemole,” threat intelligence research firm Cisco Talos reported on Wednesday. "Based on the advertised positions, it is clear that the Famous Chollima is broadly tar...
A previously unreported data breach has exposed more than 16 billion login credentials, making it one of the largest compilations of stolen personal data ever discovered. First reported by Cybernews, the trove of data includes credentials for widely used services, including Facebook, Google, Telegram, and GitHub, as well as access to corporate, developer, and government websites. Researchers from Cybernews said the information likely comes from a mix of infostealer malware logs, credential stuff...
Quantum computers weren’t expected to pose a threat to Bitcoin’s security anytime soon. But IBM has launched a project that could expedite the timeline: the world’s first fault-tolerant quantum computer, set to debut by 2029. Despite their ability to calculate in multiple directions simultaneously, current-generation quantum computers have high error rates. Without fault tolerance, and the ability to detect and correct errors as they happen, quantum computers can’t run complex algorithms that wo...
